Patrice Motsepe’s investment arm misses performance target
African Rainbow Capital blames the economy after growth in intrinsic net asset value comes in at just 2.4%
12 September 2019 - 08:01
Patrice Motsepe’s investment company African Rainbow Capital (ARC) said weak economic conditions in SA resulted in it missing its performance targets in the year to end-June.
The investment holding company, which holds stakes in Sanlam and Alexander Forbes, saw growth in net asset value (NAV) per share of 2.4% to R9.45, significantly below its medium- to long-term target of 16% growth per annum...
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